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Jan 22, 2012
01/12
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ariana huffington, steve rattner, david frum and mort zuckerman. next up, what do the shipyard in tahrir square have in common? a lot. first, here's my take. i spent the last few weeks working on an essay for "time" magazine on barack obama's foreign policy. and in association with that piece, i interviewed the president last wednesday in the oval office. let me give you a few of my thoughts and impressions. obama seemed relaxed, calm, confident. i asked him about mitt romney's attacks on him as indecisive, timid and nuanced. i don't quite know why being nuanced is a bad thing but that is what romney said. obama responded that romney and the rest of the republican field are going to be playing to their base until the primary season is over. after that, he said, he looked forward to having a foreign policy debate. overall, i think it's going to be pretty hard to argue that we have not executed a strategy over the last three years that has put america in a stronger position than it was when i came into office, he said. i think obama has good reasons
ariana huffington, steve rattner, david frum and mort zuckerman. next up, what do the shipyard in tahrir square have in common? a lot. first, here's my take. i spent the last few weeks working on an essay for "time" magazine on barack obama's foreign policy. and in association with that piece, i interviewed the president last wednesday in the oval office. let me give you a few of my thoughts and impressions. obama seemed relaxed, calm, confident. i asked him about mitt romney's...
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Sep 30, 2012
09/12
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we'll ask one of the men who runs that company, steve pagliuca. with exercise and ensure muscle health. i've got revigor. what's revigor? it's the amino acid metabolite, hmb to help rebuild muscle and strength naturally lost over time. [ female announcer ] ensure muscle health has revigor and protein to help protect, preserve, and promote muscle health. keeps you from getting soft. [ major nutrition ] ensure. nutrition in charge! not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪ >>> all of a sudden everyone knows the name bain capital, the private equity firm that mitt romney founded and has been discussed and attacked during the presidential campaign, but most of the top executives in the private equity industry have stayed silent throughout all of this
we'll ask one of the men who runs that company, steve pagliuca. with exercise and ensure muscle health. i've got revigor. what's revigor? it's the amino acid metabolite, hmb to help rebuild muscle and strength naturally lost over time. [ female announcer ] ensure muscle health has revigor and protein to help protect, preserve, and promote muscle health. keeps you from getting soft. [ major nutrition ] ensure. nutrition in charge! not quite knowing what the next phase was going to be, you know,...
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Jan 22, 2012
01/12
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steve. and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five or older, may have low t. so talk to your doctor about low t. hey, michael! [ male announcer ] and step out of the shadows. hi! how are you? [ male announcer ] learn more at isitlowt.com. [ laughs ] hey! can you enjoy vegetables with sauce and still reach your weight loss goals? you can with green giant frozen vegetables. over twenty delicious varieties have sixty calories or less per serving and are now weight watchers-endorsed. try green giant frozen vegetables with sauce. >>> breaking news at this hour. joe paterno, the long-time and legendary former coach of the penn state football team has died. he was 85 years old. we learned this in a statement from the family which said, in part, he, meaning joe paterno, has been many things in his life. a soldier, scholar, mentor, coach, friend and father. to my mother he was and is her soul mate, and the last several weeks have shown the streng
steve. and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five or older, may have low t. so talk to your doctor about low t. hey, michael! [ male announcer ] and step out of the shadows. hi! how are you? [ male announcer ] learn more at isitlowt.com. [ laughs ] hey! can you enjoy vegetables with sauce and still reach your weight loss goals? you can with green giant frozen...
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Sep 30, 2012
09/12
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i wanted to hear bain's side of the story and steve pagliuca took me up on the offer. he is a managing director, but one of the people that actually runs the firm. he is a democrat, he ran in the primary for the massachusetts senate seat, losing to elizabeth warren. also managing partner of the boston celtics. thanks for being here. >> great to be here. >> let me show you some clips from the democratic convection and get your reaction. you've seen this before. >> folks, the bain way may bring your firm the highest profits, but it's not the way to lead your country from the highest office. >> so what did you think when you listened to that? >> well, look. hyperbole has been part of the elections since the day of john adams and there's no one better than joe biden to give us a little hyperbole as we all know. i think people discount that hyperbole. we know it's hyperbole. we wake up every day trying to build businesses. it's a misnomer out there that private he can quit profits by shrinking companies. in fact, it's just the opposite. private equity creates value by growi
i wanted to hear bain's side of the story and steve pagliuca took me up on the offer. he is a managing director, but one of the people that actually runs the firm. he is a democrat, he ran in the primary for the massachusetts senate seat, losing to elizabeth warren. also managing partner of the boston celtics. thanks for being here. >> great to be here. >> let me show you some clips from the democratic convection and get your reaction. you've seen this before. >> folks, the...
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Jul 22, 2012
07/12
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welcome back, steve. >> thanks for having me, fareed. >> so first let's just talk about private equity because there are people who say that the attacks on him are legitimate because private equity is quite different from just being engaged in business. jacob wiseburg has a piece and says, look, this is money made through financial engineering, these company, private equity companies, often buy a company, then load it up with a lot of debt. use that debt to pay themselves fees, maybe the company then does well, maybe it doesn't. but they enrich themselves regardless of whether the company they bought does well. is that fair? >> so like so many things in life, the truth lies somewhere in between. there are some very commendable aspects of private equity. i think private equity has made a serious major contribution to sharpening up management in this country by going in and saying we just care about the bottom line. we want this company to be run efficiently. we don't care about your corporate jets are going to go, all this kind of stuff. and i think they've had a real impact. that's the
welcome back, steve. >> thanks for having me, fareed. >> so first let's just talk about private equity because there are people who say that the attacks on him are legitimate because private equity is quite different from just being engaged in business. jacob wiseburg has a piece and says, look, this is money made through financial engineering, these company, private equity companies, often buy a company, then load it up with a lot of debt. use that debt to pay themselves fees,...
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look, steve jobs is dead but long live steve jobs. >> on that note, ian bremmer, daniel franklin, anne marie slaughter, thank you very much. we will be back. >>> now for our "what in the world" segment. 2011 ended just hours ago and it will likely be recorded as a year of historic change. mass uprisings upended governments across the arab world. economic mismanagement in europe led to changes in italy, greece and spain. 365 days ago you couldn't have predicted these events. you couldn't have imagined so many leaders would lose their jobs. so what if i told you you can predict in 2012 a lot of leaders will say good-bye? i'm not gazing into a magic crystal ball. you see, 2012 is the year of elections. 59 countries will be tallying up votes, local, state or national. there are 193 countries in the world, so that's about a third of the world's nations. 26 of these may see a change in national leadership. together these changes could affect 53% of the world's population, representing half of the world's gdp. a lot of the change is concentrated in the world's most powerful countries. four of
look, steve jobs is dead but long live steve jobs. >> on that note, ian bremmer, daniel franklin, anne marie slaughter, thank you very much. we will be back. >>> now for our "what in the world" segment. 2011 ended just hours ago and it will likely be recorded as a year of historic change. mass uprisings upended governments across the arab world. economic mismanagement in europe led to changes in italy, greece and spain. 365 days ago you couldn't have predicted these...
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the military as steve has mentioned has been in charge in one way or another in this country for the last 60 years. it is unrealistic to assume that they're suddenly going to relinquish everything and hand over power to a kind of jeffer sewnian democracy, especially one that has just elected mohamed morsi of the muslim brotherhood. >> what about relationships with israel? he said all agreements would be honored, but in the past, he said nasty things about israel? flitser important not to be too alarmist at this point, but you're wright. he's been tough, and he's somebody in recent statements, i'm not talking about years ago but days ago, has talked about the need to keep the peace treaty but only if they abide by it. and he's described what he thinks the peace treaty demands. one of the things he thinks is in there is a palestinian state with a jerusalem capital. i think he's somebody who has a different idea about what the conditions of peace of israel are. i think it's very like lal lalyf he's allowed to have influence over foreign affairs, relations with israel will be difficult.
the military as steve has mentioned has been in charge in one way or another in this country for the last 60 years. it is unrealistic to assume that they're suddenly going to relinquish everything and hand over power to a kind of jeffer sewnian democracy, especially one that has just elected mohamed morsi of the muslim brotherhood. >> what about relationships with israel? he said all agreements would be honored, but in the past, he said nasty things about israel? flitser important not to...
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princeton university and walter isaacson, the author of biographies of everything from henry kissinger to steve jobs. to benjamin franklin. after katrina, you were a native of new orleans, you were appointed the vice chairman of the louisiana recovery authority and the job was to handle funds that were being disbursed by the federal government. in watching the rebuilding of new orleans and this whole process, what do you think that you learned that applies to what's going on now in new york and new jersey? >> three things. first of all, leadership matters. if you look at what's happening in new york and new jersey now organization view great leaders, michael bloomberg, deputy mayor bob steele, governor cuomo, governor chris christie. the president, obama, has been very involved. when we went through katrina, we were all back down in new orleans, it wasn't that strong of leadership. ray nagin was the mayor, sometimes not to be found. so i saw the importance of people who take charge and say i'm going to run into this crisis and i'm going to help solve it. secondly, it reminded us that we're all
princeton university and walter isaacson, the author of biographies of everything from henry kissinger to steve jobs. to benjamin franklin. after katrina, you were a native of new orleans, you were appointed the vice chairman of the louisiana recovery authority and the job was to handle funds that were being disbursed by the federal government. in watching the rebuilding of new orleans and this whole process, what do you think that you learned that applies to what's going on now in new york and...
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Jul 22, 2012
07/12
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. >>> steve rattner was one of the founders of the quadrangle group, a firm that once managed $6 billion in assets. more recently rattner was, of course, the obama administration's car czar, tasked with fisking the u.s. auto industry in the wake of the financial crisis. so he's somewhat a defender of private equity and somewhat a defender of president obama, a unique position to be in these days. i wanted to ask him about the realities of private equity. welcome back. >> thank you for having me, fareed. >> let's talk about private equity. there are people who say that the attacks on him are legitimate because private equity is quite different from just being engaged in business. jacob wiseburg has a piece in slate about this. this is money made through financial engineering, the companies, private equity companies often buy a company, then load it up with a lot of debt. use that debt to pay themselves fees, maybe the company then does well, maybe it doesn't, but they enrich themselves regardless of whether the company they bought does well. is that fair? >> so, like so many things in lif
. >>> steve rattner was one of the founders of the quadrangle group, a firm that once managed $6 billion in assets. more recently rattner was, of course, the obama administration's car czar, tasked with fisking the u.s. auto industry in the wake of the financial crisis. so he's somewhat a defender of private equity and somewhat a defender of president obama, a unique position to be in these days. i wanted to ask him about the realities of private equity. welcome back. >> thank...
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look, steve jobs is dead but long live steve jobs. >> on that note, thank you very much. we will be back. [ slap! slap! ] [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium rich tums goes to work in seconds. nothing works faster. ♪ tum tum tum tum tums you noticed! these clothes are too big, so i'm donating them. how'd you do it? eating right, whole grain. [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios... five whole grains, 110 calories. but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ deep breath] awesome. [ male announcer ] yes, it is. that's the cold truth! britta olsen is my patient. i spend long hours with her checking her heart rate, administering her medication, and just making her comfortable. one night britta told me about a tradition in denmark, "when a person dies," she said, "someone must open the window s
look, steve jobs is dead but long live steve jobs. >> on that note, thank you very much. we will be back. [ slap! slap! ] [ male announcer ] your favorite foods fighting you? fight back fast with tums. calcium rich tums goes to work in seconds. nothing works faster. ♪ tum tum tum tum tums you noticed! these clothes are too big, so i'm donating them. how'd you do it? eating right, whole grain. [ female announcer ] people who choose more whole grain tend to weigh less than those who...
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the military, as steve has mentioned, has been in charge in one way or another in this country for the last 60 years. it is unrealistic to assume that they're suddenly going to relinquish everything and hand over power to a kind of jeffersonian democracy, especially one that's just elected mohamed morsi of the muslim brotherhood. >> what about relations with israel? he has now said that all international agreements will be honored, but in the past, mohamed morsi has said some pretty nasty things about israel. >> well, i think it's important not to be too alarmist at this point in time. but you're absolutely right. mohamed morsi, when he's talked about israel, has been very tough. he's somebody who in recent statements -- i'm not talking about years ago, i'm talking about days ago -- has talked about the need to keep the peace treaty, but only if the israelis abide by it. and he then goes on to describe what he thinks the peace treaty demands. and one of the things he thinks is in the peta peace treaty is a palestinian state with jerusalem as its capital. that's not in the peat treaty,
the military, as steve has mentioned, has been in charge in one way or another in this country for the last 60 years. it is unrealistic to assume that they're suddenly going to relinquish everything and hand over power to a kind of jeffersonian democracy, especially one that's just elected mohamed morsi of the muslim brotherhood. >> what about relations with israel? he has now said that all international agreements will be honored, but in the past, mohamed morsi has said some pretty nasty...
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value, so when it comes to what happens to the distribution of income in the economy, we need a million steve jobs. you know, getting one more of them or two more of them or three more of them in the short run causes some income inequality before we get enough of them where it changes course and goes in the other direction. i would say what's the priority? getting the economy to grow faster? getting more innovation to pump up employment and wages, or dampening down income inequality? i take the first over the second. that would be my priority, and i think it's beneficial to the middle class and the working poor. >> you worked with mitt romney for years. do you think he agrees with what's in this book? >> i think at the highest level he agrees with the book. he certainly celebrates entrepreneurialism, risk taking to produce innovation. the book covers a lot of ground. there's lots of counter intuitive, even controversial things in the book. there's nobody who agrees with everything that's in the book except perhaps me. >> what do you think of mitt romney as an executive? >> i thought he was an
value, so when it comes to what happens to the distribution of income in the economy, we need a million steve jobs. you know, getting one more of them or two more of them or three more of them in the short run causes some income inequality before we get enough of them where it changes course and goes in the other direction. i would say what's the priority? getting the economy to grow faster? getting more innovation to pump up employment and wages, or dampening down income inequality? i take the...
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by this logic, bill gates and steve jobs made a terrible mistake by starting their companies because tax rates were 2 1/2 or 3 times higher then than they are now. >> let me ask you what you would change. wouldn't it be fair to say the united states does provide enormous incentives for rich people to invest. taxes are, historically speaking at least, much lower than they were in the 1970s when microsoft and apple were founded. marginal tax rates were 75%. capital gains tax rates were, i think, in the 40s. do you think that tax rates need to be further reduced? >> i would be very, very careful about reducing the incentives for risk takers. and i would be working very hard to lower the spending. and i think there's agreement on the left and the right that we have to -- i mean, we have to substantially reduce the spending over the long run. if we want to preserve the growth rates and the benefits that we have been to be able to provide for the middle class relatively to europe and japan if we want to continue that success. >> you want to invest -- the spending you're talking about is ba
by this logic, bill gates and steve jobs made a terrible mistake by starting their companies because tax rates were 2 1/2 or 3 times higher then than they are now. >> let me ask you what you would change. wouldn't it be fair to say the united states does provide enormous incentives for rich people to invest. taxes are, historically speaking at least, much lower than they were in the 1970s when microsoft and apple were founded. marginal tax rates were 75%. capital gains tax rates were, i...
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Jan 15, 2012
01/12
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steve ratner was a democrat, worked for obama, says that actually if you look at bain capital's record, it's quite remarkable. it's mostly about having spotted successful companies and steered them well. >> pi it's actually wrong to think about bain as having created or destroyed jobs. on balance, it led to the destruction of relatively good jobs, and replaced them with jobs that are worse. no different -- this is what private equity has done to a large extent in the u.s. economy. i don't think bain stands out as an especially bad member of that industry, but that industry is doing stuff that is good for corporate bottom lines, but not terribly good for workers. the main point is that romney is saying i should be president because i know how to create jobs, and he actually does know how to make a lot of money in private equity, which is not at all the same thing as creating jobs. it's not all the same thing as what's involved in running macroeconomic policy. the main point is not that he was an especially evil private equity investor. we don't think so. it's that that has basically zer
steve ratner was a democrat, worked for obama, says that actually if you look at bain capital's record, it's quite remarkable. it's mostly about having spotted successful companies and steered them well. >> pi it's actually wrong to think about bain as having created or destroyed jobs. on balance, it led to the destruction of relatively good jobs, and replaced them with jobs that are worse. no different -- this is what private equity has done to a large extent in the u.s. economy. i don't...